Authorities alerted to the scheme after seizing fakes from a Pisa businessman, uncovering a network that affected the art world significantly.

Italian authorities have launched a monumental operation against a criminal network accused of forging artworks from some of the most iconic names in modern art, including Banksy, Andy Warhol, and Pablo Picasso. In a series of raids executed across Italy, Spain, and Belgium, police recovered an astounding 2,100 counterfeit pieces, with a potential street value reaching €200 million (£165 million; $213 million).

A total of 38 individuals were arrested as part of the operation, with charges including conspiracy to handle stolen goods, forgery, and the illegal sale of artworks. The Carabinieri cultural squad partnered with the Pisa prosecutors’ office in this extensive investigation. The scale of the operation was unveiled in a joint statement released on Monday, revealing the existence of six specialized forgery workshops located in Tuscany, Venice, and various European sites.

This investigation was prompted by a seizure of approximately 200 fraudulent artworks earlier this year from the collection of a businessman in Pisa, which included a fake piece by the Italian painter Amedeo Modigliani. Given the scope of the deception, experts believe this operation represents "the biggest act of protection" for Banksy's estate. Although initially notorious for his clandestine street art, Banksy has faced criminal attention before; two thieves were arrested in September over the theft of his popular piece, Girl with Balloon, from a London gallery.

Additionally, the forgery network targeted works by famous artists such as Claude Monet, Vincent Van Gogh, Salvador Dali, and Gustav Klimt, among others. The renaissance of art-related crime is not limited to this operation; earlier this month, two Warhol artworks were stolen during an overnight break-in at a gallery in the Netherlands, highlighting the growing vulnerabilities in the art community.

The resilience of these revered artworks amidst the surge in criminal activities serves as a reminder of the ongoing battle between art preservation and exploitation.